SME Times News Bureau | 29 Apr, 2015
Commerce Ministry on Tuesday liberalised exports of preferential quota sugar to the European Union (CXL quota) and the US (TRQ quota), thus allowing all exporters and not just state trading enterprises (STEs) avail of the quota benefits.
This will however be subject to a quantitative ceiling that will be periodically reviewed by the Director General of Foreign Trade (DGFT).
"The change in the policy of the preferential sugar quota will enable all sugar industries in the country to export sugar subject to a minimal requirement of registration from APEDA (Agricultural and Processed Food Products Export Development Authority) or DGFT," the ministry said in a statement in New Delhi.
Traders will have to furnish details of exports to the Additional DGFT, Mumbai, as well as to the APEDA.
The quotas allow a quantum of sugar exports to the EU and US markets at low tariffs. The quota for the EU is currently 10,000 tonnes while that for the US is 8,000 tonnes.